There are numerous benefits to good corporate governance, including improved company culture, increased accountability, ability to spot potential issues before they occur. But, more than that, it shows investors that the business is organised and well placed to work in their best interests. So, it is crucial that organisations understand how to ensure good corporate governance.In its Corporate Governance Review 2020, Grant Thornton concluded:“the best-performing companies are embracing governance activities, not as separate compliance needs, but as business essentials that are fundamentally linked; risks to strategy, strategy to purpose, and reward to what really matters to all.”One of the findings of the report regarding the difference between merely performing governance and actively seeking good corporate governance relates to the handling of risk. Of those surveyed, 89% of FTSE 350 boards discussed identifying risks, but most concentrated only on the procedures for identification....
